- GameStop shares spiked over 16% after Keith Gill’s cryptic social media post on December 5.
- Solana-based GameStop memecoin rose 72% following the post but later retraced to $0.006488.
- AMC Entertainment saw a 12% rally during the trading session, but its price remains below historical highs.
GameStop shares and other associated assets rallied significantly following a cryptic social media post from Keith Gill, also known online as Roaring Kitty. Gill, widely recognized for his role in the GameStop short squeeze of January 2021, shared an edited image of a 2006 Time magazine cover on December 5, which stirred speculation across trading communities.
According to Google Finance, GameStop’s stock surged over 16% during the trading session, reaching a peak of $30.87 before settling at $28.60. Nasdaq temporarily halted trading due to increased volatility. Meanwhile, an unofficial Solana-based memecoin linked to GameStop saw a 72% rise in its value, climbing to $0.007672 before retreating to $0.006488.
AMC Entertainment, another stock previously influenced by Gill, also experienced gains. The company’s shares jumped 12% to a session high of $5.55 but remain far below their June 2021 all-time high of $261.
Memecoins and Legal Battles Surrounding Gill’s Influence
In addition to GameStop’s stock, memecoins associated with Gill’s posts have repeatedly shown sharp movements. Back in September, his post referencing a Solana-based memecoin named Chewy caused a 28% spike in its value.
Gill has faced legal challenges linked to his social media influence. In June 2024, a GameStop investor filed a lawsuit alleging that Gill orchestrated a pump-and-dump scheme. However, the case was dismissed three days later after the plaintiff voluntarily withdrew their claim. Legal analysts argued the suit lacked sufficient evidence to prove fraudulent intent.
The latest surge in GameStop and AMC shares highlights the ongoing impact of Gill’s posts on both traditional equities and blockchain-based assets. Analysts note that traders and memecoin investors continue to track his activity closely, reflecting his enduring influence in speculative markets.
